Post Office Scheme | Opportunity to become rich with less money, you will get tremendous returns, know about this scheme
Post Office Scheme Today, there are many investment options available in the market. Some take risks and invest money in the stock market and schemes like mutual funds with the intention of doubling or tripling their hard-earned money, while others prefer to invest in bank and postal schemes for safe investment. Investing in post offices is considered safe and guarantees returns. Along with this, there are many types of investment plans in the post, one of which is the main plan – Monthly Income Plan. Under this scheme, a fixed interest amount is paid to investors every month.
What is Post's monthly income plan?
Post Office Monthly Income Scheme is a popular savings scheme, which guarantees guaranteed monthly income to investors. This plan can become a secure and stable source of income after retirement. This is a small postal savings scheme, which the Central Government made more attractive from April 1 and also increased the investment limit by increasing the interest rate on this scheme.
Terms and conditions of investment in Post's MIS Scheme
Some things should be kept in mind before investing in this postal scheme. If you withdraw your money after one year, you can withdraw the entire amount, but if you withdraw in one to three years, you will be charged a 2% fee. This means that after deducting the fees the remaining amount will be returned to the investors. A certain amount will be deducted from the deposit only if the account is closed before the deadline within three years. Currently, Post's monthly income plan offers an annual interest rate of 7.4%, with a minimum of Rs 1,000 and a maximum of Rs 9 lakh. Interestingly, a joint account can also be opened under this scheme and the maximum investment limit in such accounts is up to Rs 15 lakh. Another important aspect of the scheme is that a joint account can also be opened. If you open a joint account that can be converted into a single account, there is also an option to convert the single account into a joint account, which provides flexibility to investors. In such a situation, if someone invests Rs 5 lakh in a monthly income scheme, how much will he get per month? According to the Postal Monthly Income Scheme calculator, an investor can get Rs 3,083 per month under the Postal Monthly Income Scheme on an investment of Rs 5 lakh, which is a good monthly return.
Disclaimer : Investing in mutual funds and stock market is based on risk. Before investing in the stock market, definitely consult your financial advisor. tezzbuzz.com will not be responsible for any financial loss.
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